China tells cities to get their EV plans on, BYD stock shoots upward

BYD has had its struggles in recent times but finally some good news has seen the Chinese battery and auto manufacturer get a nice little spike in its share price. The news? The powers that be in China have signaled they are still serious about pushing the adoption of electric transportation.

There are 25 cities with programs intended to boost the sales of EVs but. apparently, they are not moving forward fast enough. To encourage them to speed things up, authorities, including those at the National Development and Reform Commission, have issued a joint statement calling on those project participants to get on with the job of organizing the installation of charging points and allow EV buyers to forgo the license plate lotteries and auctions.

After shooting upwards on the news Monday and Tuesday, BYD stock has started to level off somewhat. Of course, day-to-day stock price changes aren't a great way to evaluate the overall progress of a company but dramatic shifts can be informative.

If you'd like to give BYD a hand in conquering the U.S. market, you can "Like" its Facebook page where they are accepting suggestions for a new, better name for e6 all-electric crossover.